diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/import.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/import.js
new file mode 100644
index 0000000000000..1c2b150c634ca
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/import.js
@@ -0,0 +1,6 @@
+import { foo } from "foo";
+import { bar } from "bar";
+import "./shared";
+
+foo(true);
+bar(true);
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/index.js
new file mode 100644
index 0000000000000..282fdbc134dd3
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/index.js
@@ -0,0 +1,8 @@
+import { bar } from "bar";
+import "./shared";
+
+bar(true);
+
+import("./import").then(({ foo }) => {
+  foo(true);
+});
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/bar/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/bar/index.js
new file mode 100644
index 0000000000000..6e9a13a68ba32
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/bar/index.js
@@ -0,0 +1,3 @@
+export function bar(value) {
+  console.assert(value);
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/bar/package.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/bar/package.json
new file mode 100644
index 0000000000000..14ab704d8f639
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/bar/package.json
@@ -0,0 +1,3 @@
+{
+  "main": "index.js"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/foo/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/foo/index.js
new file mode 100644
index 0000000000000..cb5877b67fcc3
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/foo/index.js
@@ -0,0 +1,3 @@
+export function foo(value) {
+  console.assert(value);
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/foo/package.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/foo/package.json
new file mode 100644
index 0000000000000..14ab704d8f639
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/node_modules/foo/package.json
@@ -0,0 +1,3 @@
+{
+  "main": "index.js"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/options.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/options.json
new file mode 100644
index 0000000000000..000d78a6b3cbb
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/options.json
@@ -0,0 +1,3 @@
+{
+  "treeShakingMode": "module-fragments"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/shared.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/shared.js
new file mode 100644
index 0000000000000..645a24a4851fa
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk/input/shared.js
@@ -0,0 +1 @@
+// shared package
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/import.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/import.js
new file mode 100644
index 0000000000000..1c2b150c634ca
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/import.js
@@ -0,0 +1,6 @@
+import { foo } from "foo";
+import { bar } from "bar";
+import "./shared";
+
+foo(true);
+bar(true);
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/index.js
new file mode 100644
index 0000000000000..282fdbc134dd3
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/index.js
@@ -0,0 +1,8 @@
+import { bar } from "bar";
+import "./shared";
+
+bar(true);
+
+import("./import").then(({ foo }) => {
+  foo(true);
+});
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/bar/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/bar/index.js
new file mode 100644
index 0000000000000..6e9a13a68ba32
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/bar/index.js
@@ -0,0 +1,3 @@
+export function bar(value) {
+  console.assert(value);
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/bar/package.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/bar/package.json
new file mode 100644
index 0000000000000..14ab704d8f639
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/bar/package.json
@@ -0,0 +1,3 @@
+{
+  "main": "index.js"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/foo/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/foo/index.js
new file mode 100644
index 0000000000000..cb5877b67fcc3
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/foo/index.js
@@ -0,0 +1,3 @@
+export function foo(value) {
+  console.assert(value);
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/foo/package.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/foo/package.json
new file mode 100644
index 0000000000000..14ab704d8f639
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/node_modules/foo/package.json
@@ -0,0 +1,3 @@
+{
+  "main": "index.js"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/shared.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/shared.js
new file mode 100644
index 0000000000000..645a24a4851fa
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/input/shared.js
@@ -0,0 +1 @@
+// shared package
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/options.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/options.json
new file mode 100644
index 0000000000000..79465e397512a
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/async_chunk_build/options.json
@@ -0,0 +1,5 @@
+{
+  "minifyType": "NoMinify",
+  "runtime": "Build",
+  "treeShakingMode": "module-fragments"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/index.js
new file mode 100644
index 0000000000000..9820516162f14
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/index.js
@@ -0,0 +1,3 @@
+import { foo } from "foo";
+
+foo(true);
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/node_modules/foo/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/node_modules/foo/index.js
new file mode 100644
index 0000000000000..cb5877b67fcc3
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/node_modules/foo/index.js
@@ -0,0 +1,3 @@
+export function foo(value) {
+  console.assert(value);
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/node_modules/foo/package.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/node_modules/foo/package.json
new file mode 100644
index 0000000000000..14ab704d8f639
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/node_modules/foo/package.json
@@ -0,0 +1,3 @@
+{
+  "main": "index.js"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/options.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/options.json
new file mode 100644
index 0000000000000..000d78a6b3cbb
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/chunked/input/options.json
@@ -0,0 +1,3 @@
+{
+  "treeShakingMode": "module-fragments"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/ecmascript_minify/input/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/ecmascript_minify/input/index.js
new file mode 100644
index 0000000000000..f490af11ac233
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/ecmascript_minify/input/index.js
@@ -0,0 +1,9 @@
+const inlined = 3;
+const message = getMessage();
+
+console.log("Hello," + " world!", inlined, message);
+console.log(message);
+
+function getMessage() {
+  return "Hello";
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/ecmascript_minify/options.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/ecmascript_minify/options.json
new file mode 100644
index 0000000000000..a0441f3013104
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/ecmascript_minify/options.json
@@ -0,0 +1,5 @@
+{
+  "runtime": "Build",
+  "minifyType": "Minify",
+  "treeShakingMode": "module-fragments"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/index.js
new file mode 100644
index 0000000000000..c5d9db6e1c7fc
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/index.js
@@ -0,0 +1,5 @@
+#!/usr/bin/env node
+
+import { foo } from "foo";
+
+foo(true);
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/node_modules/foo/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/node_modules/foo/index.js
new file mode 100644
index 0000000000000..db97d18906764
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/node_modules/foo/index.js
@@ -0,0 +1,5 @@
+#!/usr/bin/env node
+
+export function foo(value) {
+  console.assert(value);
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/node_modules/foo/package.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/node_modules/foo/package.json
new file mode 100644
index 0000000000000..14ab704d8f639
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/node_modules/foo/package.json
@@ -0,0 +1,3 @@
+{
+  "main": "index.js"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/options.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/options.json
new file mode 100644
index 0000000000000..000d78a6b3cbb
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/shebang/input/options.json
@@ -0,0 +1,3 @@
+{
+  "treeShakingMode": "module-fragments"
+}
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/Actions.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/Actions.js
new file mode 100644
index 0000000000000..0f2170c5a2d33
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/Actions.js
@@ -0,0 +1,28 @@
+// import() doesn't care about whether a module is an async module or not
+const UserApi = import("./UserAPI.js");
+
+export const CreateUserAction = async (name) => {
+  console.log("Creating user", name);
+  // These are normal awaits, because they are in an async function
+  const { createUser } = await UserApi;
+  await createUser(name);
+};
+
+// You can place import() where you like
+// Placing it at top-level will start loading and evaluating on
+//   module evaluation.
+//   see CreateUserAction above
+//   Here: Connecting to the DB starts when the application starts
+// Placing it inside of an (async) function will start loading
+//   and evaluating when the function is called for the first time
+//   which basically makes it lazy-loaded.
+//   see AlternativeCreateUserAction below
+//   Here: Connecting to the DB starts when AlternativeCreateUserAction
+//         is called
+export const AlternativeCreateUserAction = async (name) => {
+  const { createUser } = await import("./UserAPI.js");
+  await createUser(name);
+};
+
+// Note: Using await import() at top-level doesn't make much sense
+//       except in rare cases. It will import modules sequentially.
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/README.md b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/README.md
new file mode 100644
index 0000000000000..723f730dc5110
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/README.md
@@ -0,0 +1,2 @@
+Adapted from webpack
+https://github.com/webpack/webpack/blob/6be4065ade1e252c1d8dcba4af0f43e32af1bdc1/examples/top-level-await/README.md
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/UserAPI.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/UserAPI.js
new file mode 100644
index 0000000000000..810fe24f9aa7f
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/UserAPI.js
@@ -0,0 +1,7 @@
+import { dbCall } from "./db-connection.js";
+
+export const createUser = async (name) => {
+  const command = `CREATE USER ${name}`;
+  // This is a normal await, because it's in an async function
+  await dbCall({ command });
+};
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/db-connection.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/db-connection.js
new file mode 100644
index 0000000000000..412eee71b72cf
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/db-connection.js
@@ -0,0 +1,18 @@
+const connectToDB = async (url) => {
+  console.log("connecting to db", url);
+  await new Promise((r) => setTimeout(r, 1000));
+};
+
+// This is a top-level-await
+await connectToDB("my-sql://example.com");
+
+export const dbCall = async (data) => {
+  console.log("dbCall", data);
+  // This is a normal await, because it's in an async function
+  await new Promise((r) => setTimeout(r, 100));
+  return "fake data";
+};
+
+export const close = () => {
+  console.log("closes the DB connection");
+};
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/index.js b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/index.js
new file mode 100644
index 0000000000000..db6ef5c78f9a9
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/index.js
@@ -0,0 +1,6 @@
+import { CreateUserAction } from "./Actions.js";
+
+(async () => {
+  await CreateUserAction("John");
+  console.log("created user John");
+})();
diff --git a/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/options.json b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/options.json
new file mode 100644
index 0000000000000..000d78a6b3cbb
--- /dev/null
+++ b/crates/turbopack-tests/tests/snapshot/basic-tree-shake/top-level-await/input/options.json
@@ -0,0 +1,3 @@
+{
+  "treeShakingMode": "module-fragments"
+}