Background - C&M International

Fair Economy

The Fair Economy Pillar of the Framework will seek commitments from member countries to “enact and enforce effective tax, anti-money laundering, and antibribery regimes,” while promoting a fair economy for workers and families. A stated goal is to level the playing field for businesses and workers within IPEF member countries and the region more broadly by “preventing and combatting corruption, curbing tax evasion, and improving domestic resource mobilization.”  

The Fair Economy pillar will focus on:

  • Anticorruption;
  • Tax;
  • Capacity building and innovation; and
  • Cooperation, inclusive collaboration, and transparency.

In addition, the pillar was feature provisions on the:

  • Transfer of information and data related to taxes;
  • Criminalization of bribery; and
  • Implementation of beneficial ownership structures.

During the December 10-15th negotiating session, the Department of Commerce noted that it shared text on the fair economy pillar with negotiating partners, and held in-depth conversations with negotiators and stakeholders. However, specifics are not yet known.