The IEEE 'Tactile Internet' (TI) Standards working group (WG), designated the numbering IEEE 1918.1, undertakes pioneering work on the development of standards for the TI. This paper describes the WG, its intentions, and its developing baseline standard and the associated reasoning behind that and touches on a further standard already initiated under its scope: IEEE 1918.1.1 on 'Haptic Codecs for the TI.' IEEE 1918.1 and its baseline standard aim to set the framework and act as the foundations for the TI, thereby also serving as a basis for further standards developed on TI within the WG. This paper discusses the aspects of the framework such as its created TI architecture, including the elements, functions, interfaces, and other considerations therein, as well as the novel aspects and differentiating factors compared with, e.g., 5G Ultra-Reliable Low-Latency Communication, where it is noted that the TI will likely operate as an overlay on other networks or combinations of networks. Key foundations of the WG and its baseline standard are also highlighted, including the intended use cases and associated requirements that the standard must serve, and the TI's fundamental definition and assumptions as understood by the WG, among other aspects.