Iran-war disruption of SE-Asian butadiene/nitrile-rubber feedstock is forcing Malaysian glove-plant shutdowns and a developing global medical-PPE shortage. Mechanism: US tariffs (24-100%) plus 'Buy American' rhetoric have failed to reshore because GPO/distributor economics drive institutional buyers to the cheapest imports — a structural reshoring-failure case study. No direct primary-tier futures exposure; bears on the Iran-war real-economy-cost narrative and the broader tariffs/reshoring debate.