It's sad and funny at the same time. There is no industry more insulated from foreign competition than the firearms industry.
I'd like to say I had some intelligent insight to share as to why this is the case -- but I just don't. My guess is good old corruption combined with an unpopular, politically, industry.
It's sad, also, that both Remington and Colt sold out and the first thought on my mind was awesome; maybe now the quality will get better. Those companies, both of them, seemed to really try too hard to make cheaper guns than better guns. I'm not an expert on that consumer market -- but most people I know are more interested in a quality firearm than a cheap one.