diff --git a/src/librustc_codegen_llvm/callee.rs b/src/librustc_codegen_llvm/callee.rs
index 75b4f2e3ca5a5..afdc8dc618794 100644
--- a/src/librustc_codegen_llvm/callee.rs
+++ b/src/librustc_codegen_llvm/callee.rs
@@ -172,7 +172,12 @@ pub fn get_fn(cx: &CodegenCx<'ll, 'tcx>, instance: Instance<'tcx>) -> &'ll Value
             }
         }
 
-        if cx.use_dll_storage_attrs && tcx.is_dllimport_foreign_item(instance_def_id) {
+        // MinGW: For backward compatibility we rely on the linker to decide whether it
+        // should use dllimport for functions.
+        if cx.use_dll_storage_attrs
+            && tcx.is_dllimport_foreign_item(instance_def_id)
+            && tcx.sess.target.target.target_env != "gnu"
+        {
             unsafe {
                 llvm::LLVMSetDLLStorageClass(llfn, llvm::DLLStorageClass::DllImport);
             }
diff --git a/src/librustc_codegen_llvm/consts.rs b/src/librustc_codegen_llvm/consts.rs
index 3e9e5d9c8c1f4..1288870f55f1f 100644
--- a/src/librustc_codegen_llvm/consts.rs
+++ b/src/librustc_codegen_llvm/consts.rs
@@ -287,7 +287,7 @@ impl CodegenCx<'ll, 'tcx> {
             // argument validation.
             debug_assert!(
                 !(self.tcx.sess.opts.cg.linker_plugin_lto.enabled()
-                    && self.tcx.sess.target.target.options.is_like_msvc
+                    && self.tcx.sess.target.target.options.is_like_windows
                     && self.tcx.sess.opts.cg.prefer_dynamic)
             );
 
diff --git a/src/librustc_codegen_llvm/context.rs b/src/librustc_codegen_llvm/context.rs
index 33a3cdbfa9b44..26707fdf8395a 100644
--- a/src/librustc_codegen_llvm/context.rs
+++ b/src/librustc_codegen_llvm/context.rs
@@ -217,7 +217,16 @@ impl<'ll, 'tcx> CodegenCx<'ll, 'tcx> {
         // attributes in LLVM IR as well as native dependencies (in C these
         // correspond to `__declspec(dllimport)`).
         //
-        // Whenever a dynamic library is built by MSVC it must have its public
+        // LD (BFD) in MinGW mode can often correctly guess `dllexport` but
+        // relying on that can result in issues like #50176.
+        // LLD won't support that and expects symbols with proper attributes.
+        // Because of that we make MinGW target emit dllexport just like MSVC.
+        // When it comes to dllimport we use it for constants but for functions
+        // rely on the linker to do the right thing. Opposed to dllexport this
+        // task is easy for them (both LD and LLD) and allows us to easily use
+        // symbols from static libraries in shared libraries.
+        //
+        // Whenever a dynamic library is built on Windows it must have its public
         // interface specified by functions tagged with `dllexport` or otherwise
         // they're not available to be linked against. This poses a few problems
         // for the compiler, some of which are somewhat fundamental, but we use
@@ -254,8 +263,8 @@ impl<'ll, 'tcx> CodegenCx<'ll, 'tcx> {
         // this effect) by marking very little as `dllimport` and praying the
         // linker will take care of everything. Fixing this problem will likely
         // require adding a few attributes to Rust itself (feature gated at the
-        // start) and then strongly recommending static linkage on MSVC!
-        let use_dll_storage_attrs = tcx.sess.target.target.options.is_like_msvc;
+        // start) and then strongly recommending static linkage on Windows!
+        let use_dll_storage_attrs = tcx.sess.target.target.options.is_like_windows;
 
         let check_overflow = tcx.sess.overflow_checks();
 
diff --git a/src/librustc_codegen_ssa/back/linker.rs b/src/librustc_codegen_ssa/back/linker.rs
index d1ae9e372695f..f9a782af24cda 100644
--- a/src/librustc_codegen_ssa/back/linker.rs
+++ b/src/librustc_codegen_ssa/back/linker.rs
@@ -523,8 +523,9 @@ impl<'a> Linker for GccLinker<'a> {
             return;
         }
 
+        let is_windows = self.sess.target.target.options.is_like_windows;
         let mut arg = OsString::new();
-        let path = tmpdir.join("list");
+        let path = tmpdir.join(if is_windows { "list.def" } else { "list" });
 
         debug!("EXPORTED SYMBOLS:");
 
@@ -540,6 +541,21 @@ impl<'a> Linker for GccLinker<'a> {
             if let Err(e) = res {
                 self.sess.fatal(&format!("failed to write lib.def file: {}", e));
             }
+        } else if is_windows {
+            let res: io::Result<()> = try {
+                let mut f = BufWriter::new(File::create(&path)?);
+
+                // .def file similar to MSVC one but without LIBRARY section
+                // because LD doesn't like when it's empty
+                writeln!(f, "EXPORTS")?;
+                for symbol in self.info.exports[&crate_type].iter() {
+                    debug!("  _{}", symbol);
+                    writeln!(f, "  {}", symbol)?;
+                }
+            };
+            if let Err(e) = res {
+                self.sess.fatal(&format!("failed to write list.def file: {}", e));
+            }
         } else {
             // Write an LD version script
             let res: io::Result<()> = try {
@@ -573,7 +589,10 @@ impl<'a> Linker for GccLinker<'a> {
             if !self.is_ld {
                 arg.push("-Wl,")
             }
-            arg.push("--version-script=");
+            // Both LD and LLD accept export list in *.def file form, there are no flags required
+            if !is_windows {
+                arg.push("--version-script=")
+            }
         }
 
         arg.push(&path);
diff --git a/src/librustc_codegen_ssa/back/write.rs b/src/librustc_codegen_ssa/back/write.rs
index 23e0b9344ec91..b0fae566a5aef 100644
--- a/src/librustc_codegen_ssa/back/write.rs
+++ b/src/librustc_codegen_ssa/back/write.rs
@@ -1846,11 +1846,11 @@ fn msvc_imps_needed(tcx: TyCtxt<'_>) -> bool {
     // something is wrong with commandline arg validation.
     assert!(
         !(tcx.sess.opts.cg.linker_plugin_lto.enabled()
-            && tcx.sess.target.target.options.is_like_msvc
+            && tcx.sess.target.target.options.is_like_windows
             && tcx.sess.opts.cg.prefer_dynamic)
     );
 
-    tcx.sess.target.target.options.is_like_msvc &&
+    tcx.sess.target.target.options.is_like_windows &&
         tcx.sess.crate_types().iter().any(|ct| *ct == CrateType::Rlib) &&
     // ThinLTO can't handle this workaround in all cases, so we don't
     // emit the `__imp_` symbols. Instead we make them unnecessary by disallowing
diff --git a/src/librustc_session/session.rs b/src/librustc_session/session.rs
index 0d4298fa6f502..e9077f4085909 100644
--- a/src/librustc_session/session.rs
+++ b/src/librustc_session/session.rs
@@ -1294,19 +1294,19 @@ pub fn build_session(
 // commandline argument, you can do so here.
 fn validate_commandline_args_with_session_available(sess: &Session) {
     // Since we don't know if code in an rlib will be linked to statically or
-    // dynamically downstream, rustc generates `__imp_` symbols that help the
-    // MSVC linker deal with this lack of knowledge (#27438). Unfortunately,
+    // dynamically downstream, rustc generates `__imp_` symbols that help linkers
+    // on Windows deal with this lack of knowledge (#27438). Unfortunately,
     // these manually generated symbols confuse LLD when it tries to merge
-    // bitcode during ThinLTO. Therefore we disallow dynamic linking on MSVC
+    // bitcode during ThinLTO. Therefore we disallow dynamic linking on Windows
     // when compiling for LLD ThinLTO. This way we can validly just not generate
     // the `dllimport` attributes and `__imp_` symbols in that case.
     if sess.opts.cg.linker_plugin_lto.enabled()
         && sess.opts.cg.prefer_dynamic
-        && sess.target.target.options.is_like_msvc
+        && sess.target.target.options.is_like_windows
     {
         sess.err(
             "Linker plugin based LTO is not supported together with \
-                  `-C prefer-dynamic` when targeting MSVC",
+                  `-C prefer-dynamic` when targeting Windows-like targets",
         );
     }
 
diff --git a/src/test/run-make-fulldeps/mingw-export-call-convention/Makefile b/src/test/run-make-fulldeps/mingw-export-call-convention/Makefile
new file mode 100644
index 0000000000000..4a60059cc5441
--- /dev/null
+++ b/src/test/run-make-fulldeps/mingw-export-call-convention/Makefile
@@ -0,0 +1,9 @@
+include ../tools.mk
+
+# only-windows-gnu
+
+all:
+	$(RUSTC) foo.rs
+	# FIXME: we should make sure __stdcall calling convention is used here
+	# but that only works with LLD right now
+	nm -g "$(call IMPLIB,foo)" | $(CGREP) bar
diff --git a/src/test/run-make-fulldeps/mingw-export-call-convention/foo.rs b/src/test/run-make-fulldeps/mingw-export-call-convention/foo.rs
new file mode 100644
index 0000000000000..1fec00311ef06
--- /dev/null
+++ b/src/test/run-make-fulldeps/mingw-export-call-convention/foo.rs
@@ -0,0 +1,4 @@
+#![crate_type = "cdylib"]
+
+#[no_mangle]
+pub extern "system" fn bar() {}
diff --git a/src/test/run-make-fulldeps/tools.mk b/src/test/run-make-fulldeps/tools.mk
index 8b885f1dc6d58..f9b6d34229593 100644
--- a/src/test/run-make-fulldeps/tools.mk
+++ b/src/test/run-make-fulldeps/tools.mk
@@ -51,6 +51,7 @@ ifdef IS_MSVC
 STATICLIB = $(TMPDIR)/$(1).lib
 STATICLIB_GLOB = $(1)*.lib
 else
+IMPLIB = $(TMPDIR)/lib$(1).dll.a
 STATICLIB = $(TMPDIR)/lib$(1).a
 STATICLIB_GLOB = lib$(1)*.a
 endif