diff --git a/src/babel-plugins/strip-node-prefix.mjs b/src/babel-plugins/strip-node-prefix.mjs
index 191fce47951ee..c078b0e0e051f 100644
--- a/src/babel-plugins/strip-node-prefix.mjs
+++ b/src/babel-plugins/strip-node-prefix.mjs
@@ -23,7 +23,7 @@ export default function ({ types: t, targets }) {
       },
 
       // e.g. `await import('node:fs')`
-      // Note: only here for reference, it's mangled with EMSCRIPTEN$AWAIT$IMPORT below.
+      // Note: when using Closure, it's mangled with EMSCRIPTEN$AWAIT$IMPORT below.
       ImportExpression({ node }) {
         if (t.isStringLiteral(node.source) && node.source.value.startsWith('node:')) {
           node.source.value = node.source.value.slice(5);
@@ -34,8 +34,7 @@ export default function ({ types: t, targets }) {
       CallExpression({ node }) {
         if (
           (t.isIdentifier(node.callee, { name: 'require' }) ||
-            // Special placeholder for `await import`
-            // FIXME: Remove after PR https://github.com/emscripten-core/emscripten/pull/23730 is landed.
+            // Special placeholder for `await import` when using Closure
             t.isIdentifier(node.callee, { name: 'EMSCRIPTEN$AWAIT$IMPORT' })) &&
           t.isStringLiteral(node.arguments[0]) &&
           node.arguments[0].value.startsWith('node:')
diff --git a/src/closure-externs/closure-externs.js b/src/closure-externs/closure-externs.js
index 774f46f847460..b0f465435ff99 100644
--- a/src/closure-externs/closure-externs.js
+++ b/src/closure-externs/closure-externs.js
@@ -11,8 +11,7 @@
  * The closure_compiler() method in tools/shared.py refers to this file when calling closure.
  */
 
-// Special placeholder for `import.meta` and `await import`.
-var EMSCRIPTEN$IMPORT$META;
+// Special placeholder for `await import` and `await`.
 var EMSCRIPTEN$AWAIT$IMPORT;
 var EMSCRIPTEN$AWAIT;
 
diff --git a/src/modules.mjs b/src/modules.mjs
index 83fcf1d86d8b3..520d6cc7c74ea 100644
--- a/src/modules.mjs
+++ b/src/modules.mjs
@@ -329,6 +329,15 @@ export const LibraryManager = {
       preprocessedName = path.join(getTempDir(), path.basename(filename));
     }
 
+    if (EXPORT_ES6) {
+      // `vm.runInContext` doesn't support module syntax; to allow it,
+      // we need to temporarily replace `import.meta` usages with
+      // placeholders during the JS compile phase, then in Python
+      // we reverse this replacement.
+      // See also: `emscript` in emscripten.py.
+      contents = contents.replace(/\bimport\.meta\b/g, 'EMSCRIPTEN$IMPORT$META');
+    }
+
     try {
       runInMacroContext(contents, {filename: preprocessedName})
     } catch (e) {
diff --git a/src/parseTools.mjs b/src/parseTools.mjs
index 544d7bd808250..2d1626f17c836 100644
--- a/src/parseTools.mjs
+++ b/src/parseTools.mjs
@@ -73,18 +73,15 @@ function findIncludeFile(filename, currentDir) {
 // Also handles #include x.js (similar to C #include <file>)
 export function preprocess(filename) {
   let text = readFile(filename);
-  if (EXPORT_ES6) {
-    // `eval`, Terser and Closure don't support module syntax; to allow it,
-    // we need to temporarily replace `import.meta` and `await import` usages
-    // with placeholders during preprocess phase, and back after all the other ops.
-    // See also: `phase_final_emitting` in emcc.py.
-    text = text
-      .replace(/\bimport\.meta\b/g, 'EMSCRIPTEN$IMPORT$META')
-      .replace(/\bawait import\b/g, 'EMSCRIPTEN$AWAIT$IMPORT');
-  }
-  if (MODULARIZE) {
-    // Same for out use of "top-level-await" which is not actually top level
-    // in the case of MODULARIZE.
+  if (MODULARIZE && USE_CLOSURE_COMPILER) {
+    // Closure doesn't support "top-level await" which is not actually the top
+    // level in case of MODULARIZE. Temporarily replace `await` usages with
+    // placeholders during preprocess phase, and back after all the other ops.
+    // See also: `fix_js_mangling` in emcc.py.
+    // FIXME: Remove after https://github.com/google/closure-compiler/issues/3835 is fixed.
+    if (EXPORT_ES6) {
+      text = text.replace(/\bawait import\b/g, 'EMSCRIPTEN$AWAIT$IMPORT');
+    }
     text = text.replace(/\bawait createWasm\(\)/g, 'EMSCRIPTEN$AWAIT(createWasm())');
   }
   // Remove windows line endings, if any
diff --git a/src/shell.js b/src/shell.js
index 41294749487a4..0eedcc91fe17c 100644
--- a/src/shell.js
+++ b/src/shell.js
@@ -112,8 +112,7 @@ if (ENVIRONMENT_IS_NODE) {
   // When building an ES module `require` is not normally available.
   // We need to use `createRequire()` to construct the require()` function.
   const { createRequire } = await import('node:module');
-  /** @suppress{duplicate} */
-  var require = createRequire(import.meta.url);
+  global.require = createRequire(import.meta.url);
 #endif
 
 #if PTHREADS || WASM_WORKERS
@@ -130,7 +129,7 @@ if (ENVIRONMENT_IS_NODE) {
 #endif
 #endif // PTHREADS || WASM_WORKERS
 }
-#endif // ENVIRONMENT_MAY_BE_NODE
+#endif // ENVIRONMENT_MAY_BE_NODE && (EXPORT_ES6 || PTHREADS || WASM_WORKERS)
 
 // --pre-jses are emitted after the Module integration code, so that they can
 // refer to Module (if they choose; they can also define Module)
diff --git a/test/codesize/test_codesize_minimal_esm.json b/test/codesize/test_codesize_minimal_esm.json
index 742d414e173f6..ae07df4480880 100644
--- a/test/codesize/test_codesize_minimal_esm.json
+++ b/test/codesize/test_codesize_minimal_esm.json
@@ -1,10 +1,10 @@
 {
-  "a.out.js": 2448,
-  "a.out.js.gz": 1175,
+  "a.out.js": 2445,
+  "a.out.js.gz": 1172,
   "a.out.nodebug.wasm": 75,
   "a.out.nodebug.wasm.gz": 87,
-  "total": 2523,
-  "total_gz": 1262,
+  "total": 2520,
+  "total_gz": 1259,
   "sent": [],
   "imports": [],
   "exports": [
diff --git a/test/test_other.py b/test/test_other.py
index 81d892921162c..756b83d8a9058 100644
--- a/test/test_other.py
+++ b/test/test_other.py
@@ -13423,6 +13423,11 @@ def test_node_prefix_transpile(self):
     content = read_file('a.out.js')
     self.assertNotContained('node:', content)
 
+    # Test that the leading `node:` prefix is removed from imports when `--closure=1`
+    self.run_process([EMCC, test_file('hello_world.c'), '-sEXPORT_ES6', '-sMIN_NODE_VERSION=150000', '-Wno-transpile', '--closure=1'])
+    content = read_file('a.out.js')
+    self.assertNotContained('node:', content)
+
   def test_gmtime_noleak(self):
     # Confirm that gmtime_r does not leak when called in isolation.
     self.do_other_test('test_gmtime_noleak.c', cflags=['-fsanitize=leak'])
diff --git a/third_party/terser/README.md b/third_party/terser/README.md
index bae2adf9c6c60..7945ad521ba0d 100644
--- a/third_party/terser/README.md
+++ b/third_party/terser/README.md
@@ -7,7 +7,7 @@ version published in npm.
 This `terser.js` bundle in this directory was built from our fork of terser
 which lives at: https://github.com/emscripten-core/terser/
 
-The current patches are stored in the `emscripten_patches_v4.8.0` branch.
+The current patches are stored in the `emscripten_patches_v5.18.2` branch.
 
 To make changes to this code please submit patches to
 https://github.com/emscripten-core/terser/ and then re-create this bundle
diff --git a/tools/acorn-optimizer.mjs b/tools/acorn-optimizer.mjs
index 5fd4c6c098637..311c087cc99e9 100755
--- a/tools/acorn-optimizer.mjs
+++ b/tools/acorn-optimizer.mjs
@@ -1718,6 +1718,7 @@ const params = {
   ecmaVersion: 'latest',
   sourceType: exportES6 ? 'module' : 'script',
   allowAwaitOutsideFunction: true,
+  allowImportExportEverywhere: exportES6,
 };
 if (closureFriendly) {
   const currentComments = [];
diff --git a/tools/building.py b/tools/building.py
index bc09df6d26012..31b07d9444e57 100644
--- a/tools/building.py
+++ b/tools/building.py
@@ -541,11 +541,21 @@ def version_split(v):
 @ToolchainProfiler.profile()
 def transpile(filename):
   config = {
-    'sourceType': 'script',
-    'presets': ['@babel/preset-env'],
+    'sourceType': 'module' if settings.EXPORT_ES6 else 'script',
+    'presets': [
+      ['@babel/preset-env', {
+        # Avoid transforming `import()` expressions to non-ESM module formats.
+        'exclude': ['@babel/plugin-transform-dynamic-import'],
+      }],
+    ],
     'plugins': [],
     'targets': {},
     'parserOpts': {
+      # Allow Babel to parse "top-level await" which is not actually the top
+      # level in case of MODULARIZE.
+      'allowAwaitOutsideFunction': True,
+      # Allow Babel to parse "import.meta".
+      'allowImportExportEverywhere': settings.EXPORT_ES6,
       # FIXME: Remove when updating to Babel 8, see:
       # https://babeljs.io/docs/v8-migration-api#javascript-nodes
       'createImportExpressions': True,
@@ -637,6 +647,14 @@ def closure_compiler(filename, advanced=True, extra_closure_args=None):
 
   args = ['--compilation_level', 'ADVANCED_OPTIMIZATIONS' if advanced else 'SIMPLE_OPTIMIZATIONS']
   args += ['--language_in', 'UNSTABLE']
+  # Make Closure aware of the ES6 module syntax;
+  # i.e. the `import.meta` and `await import` usages
+  if settings.EXPORT_ES6:
+    args += ['--chunk_output_type', 'ES_MODULES']
+    if settings.ENVIRONMENT_MAY_BE_NODE:
+      args += ['--module_resolution', 'NODE']
+      # https://github.com/google/closure-compiler/issues/3740
+      args += ['--jscomp_off=moduleLoad']
   # We do transpilation using babel
   args += ['--language_out', 'NO_TRANSPILE']
   # Tell closure never to inject the 'use strict' directive.
diff --git a/tools/emscripten.py b/tools/emscripten.py
index d9e7384a0c934..bc7c32a15bb6c 100644
--- a/tools/emscripten.py
+++ b/tools/emscripten.py
@@ -427,6 +427,11 @@ def emscript(in_wasm, out_wasm, outfile_js, js_syms, finalize=True, base_metadat
   assert '//FORWARDED_DATA:' in out, 'Did not receive forwarded data in pre output - process failed?'
   glue, forwarded_data = out.split('//FORWARDED_DATA:', 1)
 
+  # Unmangle previously mangled `import.meta` references in lib*.js.
+  # See also: `LibraryManager.load` in modules.mjs.
+  if settings.EXPORT_ES6:
+    glue = glue.replace('EMSCRIPTEN$IMPORT$META', 'import.meta')
+
   forwarded_json = json.loads(forwarded_data)
 
   if forwarded_json['warnings']:
diff --git a/tools/link.py b/tools/link.py
index aaffe9eae7066..e0bb33c406c97 100644
--- a/tools/link.py
+++ b/tools/link.py
@@ -2083,19 +2083,28 @@ def phase_source_transforms(options):
   save_intermediate('transformed')
 
 
-# Unmangle previously mangled `import.meta` and `await import` references in
+# Unmangle previously mangled `await import` and `await` references in
 # both main code and libraries.
 # See also: `preprocess` in parseTools.js.
 def fix_js_mangling(js_file):
-  # We don't apply these mangliings except in MODULARIZE/EXPORT_ES6 modes.
-  if not settings.MODULARIZE:
+  # Mangling only takes place under closure in MODULARIZE mode.
+  if not settings.MODULARIZE or not settings.USE_CLOSURE_COMPILER:
     return
 
   src = read_file(js_file)
-  write_file(js_file, src
-             .replace('EMSCRIPTEN$IMPORT$META', 'import.meta')
-             .replace('EMSCRIPTEN$AWAIT$IMPORT', 'await import')
-             .replace('EMSCRIPTEN$AWAIT(', 'await ('))
+
+  if settings.EXPORT_ES6:
+    # Also remove the line containing `export{};`, which is inserted by
+    # Closure to mark the file as an ES6 module.
+    # https://github.com/google/closure-compiler/issues/4084#issuecomment-1505056519
+    # https://github.com/google/closure-compiler/blob/v20260401/src/com/google/javascript/jscomp/ConvertChunksToESModules.java#L111-L113
+    src = src \
+      .replace('EMSCRIPTEN$AWAIT$IMPORT', 'await import') \
+      .replace('export{};\n', '')
+
+  src = src.replace('EMSCRIPTEN$AWAIT(', 'await (')
+
+  write_file(js_file, src)
   save_intermediate('js-mangling')