diff --git a/Jakefile.js b/Jakefile.js
index 64a8553ef39..ecbd0ae2be2 100644
--- a/Jakefile.js
+++ b/Jakefile.js
@@ -74,7 +74,7 @@ var compilerSources = [
     "transformers/module/system.ts",
     "transformers/module/module.ts",
     "transformers/jsx.ts",
-    "transformers/es7.ts",
+    "transformers/es2016.ts",
     "transformers/generators.ts",
     "transformers/es6.ts",
     "transformer.ts",
@@ -108,7 +108,7 @@ var servicesSources = [
     "transformers/module/system.ts",
     "transformers/module/module.ts",
     "transformers/jsx.ts",
-    "transformers/es7.ts",
+    "transformers/es2016.ts",
     "transformers/generators.ts",
     "transformers/es6.ts",
     "transformer.ts",
diff --git a/src/compiler/binder.ts b/src/compiler/binder.ts
index 2fe7d30ab56..ce482dcdfd9 100644
--- a/src/compiler/binder.ts
+++ b/src/compiler/binder.ts
@@ -2411,8 +2411,8 @@ namespace ts {
         }
         else if (operatorTokenKind === SyntaxKind.AsteriskAsteriskToken
             || operatorTokenKind === SyntaxKind.AsteriskAsteriskEqualsToken) {
-            // Exponentiation is ES7 syntax.
-            transformFlags |= TransformFlags.AssertES7;
+            // Exponentiation is ES2016 syntax.
+            transformFlags |= TransformFlags.AssertES2016;
         }
 
         node.transformFlags = transformFlags | TransformFlags.HasComputedFlags;
diff --git a/src/compiler/commandLineParser.ts b/src/compiler/commandLineParser.ts
index 16d338cac6a..b77f6898b3c 100644
--- a/src/compiler/commandLineParser.ts
+++ b/src/compiler/commandLineParser.ts
@@ -262,8 +262,8 @@ namespace ts {
                 "es3": ScriptTarget.ES3,
                 "es5": ScriptTarget.ES5,
                 "es6": ScriptTarget.ES6,
-                "es8": ScriptTarget.ES8,
                 "es2015": ScriptTarget.ES2015,
+                "es2016": ScriptTarget.ES2016,
                 "es2017": ScriptTarget.ES2017,
             }),
             description: Diagnostics.Specify_ECMAScript_target_version_Colon_ES3_default_ES5_or_ES2015,
diff --git a/src/compiler/emitter.ts b/src/compiler/emitter.ts
index b0e31278ff0..a3f69e2fd4b 100644
--- a/src/compiler/emitter.ts
+++ b/src/compiler/emitter.ts
@@ -2194,8 +2194,8 @@ const _super = (function (geti, seti) {
 
             // Only emit __awaiter function when target ES5/ES6.
             // Only emit __generator function when target ES5.
-            // For target ES8 and above, we can emit async/await as is.
-            if ((languageVersion < ScriptTarget.ES8) && (!awaiterEmitted && node.flags & NodeFlags.HasAsyncFunctions)) {
+            // For target ES2017 and above, we can emit async/await as is.
+            if ((languageVersion < ScriptTarget.ES2017) && (!awaiterEmitted && node.flags & NodeFlags.HasAsyncFunctions)) {
                 writeLines(awaiterHelper);
                 if (languageVersion < ScriptTarget.ES6) {
                     writeLines(generatorHelper);
diff --git a/src/compiler/transformer.ts b/src/compiler/transformer.ts
index 415a9ecd1d7..9e548268052 100644
--- a/src/compiler/transformer.ts
+++ b/src/compiler/transformer.ts
@@ -1,7 +1,7 @@
 /// <reference path="visitor.ts" />
 /// <reference path="transformers/ts.ts" />
 /// <reference path="transformers/jsx.ts" />
-/// <reference path="transformers/es7.ts" />
+/// <reference path="transformers/es2016.ts" />
 /// <reference path="transformers/es6.ts" />
 /// <reference path="transformers/generators.ts" />
 /// <reference path="transformers/module/module.ts" />
@@ -115,8 +115,9 @@ namespace ts {
             transformers.push(transformJsx);
         }
 
-        if (languageVersion < ScriptTarget.ES8) {
-            transformers.push(transformES7);
+
+        if (languageVersion < ScriptTarget.ES2016) {
+            transformers.push(transformES2016);
         }
 
         if (languageVersion < ScriptTarget.ES6) {
diff --git a/src/compiler/transformers/es7.ts b/src/compiler/transformers/es2016.ts
similarity index 91%
rename from src/compiler/transformers/es7.ts
rename to src/compiler/transformers/es2016.ts
index 4d5e96134c4..fba1d300903 100644
--- a/src/compiler/transformers/es7.ts
+++ b/src/compiler/transformers/es2016.ts
@@ -3,7 +3,7 @@
 
 /*@internal*/
 namespace ts {
-    export function transformES7(context: TransformationContext) {
+    export function transformES2016(context: TransformationContext) {
         const { hoistVariableDeclaration } = context;
 
         return transformSourceFile;
@@ -17,10 +17,10 @@ namespace ts {
         }
 
         function visitor(node: Node): VisitResult<Node> {
-            if (node.transformFlags & TransformFlags.ES7) {
+            if (node.transformFlags & TransformFlags.ES2016) {
                 return visitorWorker(node);
             }
-            else if (node.transformFlags & TransformFlags.ContainsES7) {
+            else if (node.transformFlags & TransformFlags.ContainsES2016) {
                 return visitEachChild(node, visitor, context);
             }
             else {
@@ -40,7 +40,7 @@ namespace ts {
         }
 
         function visitBinaryExpression(node: BinaryExpression): Expression {
-            // We are here because ES7 adds support for the exponentiation operator.
+            // We are here because ES2016 adds support for the exponentiation operator.
             const left = visitNode(node.left, visitor, isExpression);
             const right = visitNode(node.right, visitor, isExpression);
             if (node.operatorToken.kind === SyntaxKind.AsteriskAsteriskEqualsToken) {
@@ -98,4 +98,4 @@ namespace ts {
             }
         }
     }
-}
\ No newline at end of file
+}
diff --git a/src/compiler/transformers/ts.ts b/src/compiler/transformers/ts.ts
index 40b9e7f64e1..c98fbfc26cc 100644
--- a/src/compiler/transformers/ts.ts
+++ b/src/compiler/transformers/ts.ts
@@ -241,8 +241,7 @@ namespace ts {
                     return currentNamespace ? undefined : node;
 
                 case SyntaxKind.AsyncKeyword:
-                    // Async keyword is not elided for target ES8
-                    return languageVersion < ScriptTarget.ES8 ? undefined : node;
+                    return node;
 
                 case SyntaxKind.PublicKeyword:
                 case SyntaxKind.PrivateKeyword:
diff --git a/src/compiler/tsconfig.json b/src/compiler/tsconfig.json
index f128c994af1..fc0f016f664 100644
--- a/src/compiler/tsconfig.json
+++ b/src/compiler/tsconfig.json
@@ -24,7 +24,7 @@
         "visitor.ts",
         "transformers/ts.ts",
         "transformers/jsx.ts",
-        "transformers/es7.ts",
+        "transformers/es2016.ts",
         "transformers/es6.ts",
         "transformers/generators.ts",
         "transformers/destructuring.ts",
diff --git a/src/compiler/types.ts b/src/compiler/types.ts
index 5b193beb155..b89887cafa0 100644
--- a/src/compiler/types.ts
+++ b/src/compiler/types.ts
@@ -2831,10 +2831,10 @@ namespace ts {
         ES3 = 0,
         ES5 = 1,
         ES6 = 2,
-        ES8 = 3,
         ES2015 = ES6,
-        ES2017 = ES8,
-        Latest = ES8,
+        ES2016 = 3,
+        ES2017 = 4,
+        Latest = ES2017,
     }
 
     export const enum LanguageVariant {
@@ -3119,29 +3119,31 @@ namespace ts {
         ContainsTypeScript = 1 << 1,
         Jsx = 1 << 2,
         ContainsJsx = 1 << 3,
-        ES7 = 1 << 4,
-        ContainsES7 = 1 << 5,
-        ES6 = 1 << 6,
-        ContainsES6 = 1 << 7,
-        DestructuringAssignment = 1 << 8,
-        Generator = 1 << 9,
-        ContainsGenerator = 1 << 10,
+        ES2017 = 1 << 4,
+        ContainsES2017 = 1 << 5,
+        ES2016 = 1 << 6,
+        ContainsES2016 = 1 << 7,
+        ES6 = 1 << 8,
+        ContainsES6 = 1 << 9,
+        DestructuringAssignment = 1 << 10,
+        Generator = 1 << 11,
+        ContainsGenerator = 1 << 12,
 
         // Markers
         // - Flags used to indicate that a subtree contains a specific transformation.
-        ContainsDecorators = 1 << 11,
-        ContainsPropertyInitializer = 1 << 12,
-        ContainsLexicalThis = 1 << 13,
-        ContainsCapturedLexicalThis = 1 << 14,
-        ContainsLexicalThisInComputedPropertyName = 1 << 15,
-        ContainsDefaultValueAssignments = 1 << 16,
-        ContainsParameterPropertyAssignments = 1 << 17,
-        ContainsSpreadElementExpression = 1 << 18,
-        ContainsComputedPropertyName = 1 << 19,
-        ContainsBlockScopedBinding = 1 << 20,
-        ContainsBindingPattern = 1 << 21,
-        ContainsYield = 1 << 22,
-        ContainsHoistedDeclarationOrCompletion = 1 << 23,
+        ContainsDecorators = 1 << 13,
+        ContainsPropertyInitializer = 1 << 14,
+        ContainsLexicalThis = 1 << 15,
+        ContainsCapturedLexicalThis = 1 << 16,
+        ContainsLexicalThisInComputedPropertyName = 1 << 17,
+        ContainsDefaultValueAssignments = 1 << 18,
+        ContainsParameterPropertyAssignments = 1 << 19,
+        ContainsSpreadElementExpression = 1 << 20,
+        ContainsComputedPropertyName = 1 << 21,
+        ContainsBlockScopedBinding = 1 << 22,
+        ContainsBindingPattern = 1 << 23,
+        ContainsYield = 1 << 24,
+        ContainsHoistedDeclarationOrCompletion = 1 << 25,
 
         HasComputedFlags = 1 << 29, // Transform flags have been computed.
 
@@ -3149,14 +3151,15 @@ namespace ts {
         // - Bitmasks that are used to assert facts about the syntax of a node and its subtree.
         AssertTypeScript = TypeScript | ContainsTypeScript,
         AssertJsx = Jsx | ContainsJsx,
-        AssertES7 = ES7 | ContainsES7,
+        AssertES2017 = ES2017 | ContainsES2017,
+        AssertES2016 = ES2016 | ContainsES2016,
         AssertES6 = ES6 | ContainsES6,
         AssertGenerator = Generator | ContainsGenerator,
 
         // Scope Exclusions
         // - Bitmasks that exclude flags from propagating out of a specific context
         //   into the subtree flags of their container.
-        NodeExcludes = TypeScript | Jsx | ES7 | ES6 | DestructuringAssignment | Generator | HasComputedFlags,
+        NodeExcludes = TypeScript | Jsx | ES2017 | ES2016 | ES6 | DestructuringAssignment | Generator | HasComputedFlags,
         ArrowFunctionExcludes = NodeExcludes | ContainsDecorators | ContainsDefaultValueAssignments | ContainsLexicalThis | ContainsParameterPropertyAssignments | ContainsBlockScopedBinding | ContainsYield | ContainsHoistedDeclarationOrCompletion,
         FunctionExcludes = NodeExcludes | ContainsDecorators | ContainsDefaultValueAssignments | ContainsCapturedLexicalThis | ContainsLexicalThis | ContainsParameterPropertyAssignments | ContainsBlockScopedBinding | ContainsYield | ContainsHoistedDeclarationOrCompletion,
         ConstructorExcludes = NodeExcludes | ContainsDefaultValueAssignments | ContainsLexicalThis | ContainsCapturedLexicalThis | ContainsBlockScopedBinding | ContainsYield | ContainsHoistedDeclarationOrCompletion,
diff --git a/src/compiler/utilities.ts b/src/compiler/utilities.ts
index 1a4d95feca5..b661cefb5a6 100644
--- a/src/compiler/utilities.ts
+++ b/src/compiler/utilities.ts
@@ -4141,7 +4141,15 @@ namespace ts {
 
 namespace ts {
     export function getDefaultLibFileName(options: CompilerOptions): string {
-        return options.target === ScriptTarget.ES6 ? "lib.es6.d.ts" : "lib.d.ts";
+        switch (options.target) {
+            case ScriptTarget.ES2016:
+                return "lib.es2016.d.ts";
+            case ScriptTarget.ES6:
+                return "lib.es2015.d.ts";
+
+            default:
+                return "lib.d.ts";
+        }
     }
 
     export function textSpanEnd(span: TextSpan) {
diff --git a/src/harness/harness.ts b/src/harness/harness.ts
index 7c82aeece78..b8703ebc8f2 100644
--- a/src/harness/harness.ts
+++ b/src/harness/harness.ts
@@ -941,7 +941,15 @@ namespace Harness {
         }
 
         export function getDefaultLibFileName(options: ts.CompilerOptions): string {
-            return options.target === ts.ScriptTarget.ES6 ? es2015DefaultLibFileName : defaultLibFileName;
+            switch (options.target) {
+                case ts.ScriptTarget.ES2016:
+                    return "lib.es2016.d.ts";
+                case ts.ScriptTarget.ES6:
+                    return es2015DefaultLibFileName;
+
+                default:
+                    return defaultLibFileName;
+            }
         }
 
         // Cache these between executions so we don't have to re-parse them for every test
diff --git a/src/harness/tsconfig.json b/src/harness/tsconfig.json
index f9d302ace81..aa46c8ee8d0 100644
--- a/src/harness/tsconfig.json
+++ b/src/harness/tsconfig.json
@@ -26,7 +26,7 @@
         "../compiler/visitor.ts",
         "../compiler/transformers/ts.ts",
         "../compiler/transformers/jsx.ts",
-        "../compiler/transformers/es7.ts",
+        "../compiler/transformers/es2016.ts",
         "../compiler/transformers/es6.ts",
         "../compiler/transformers/generators.ts",
         "../compiler/transformers/destructuring.ts",
diff --git a/src/harness/unittests/commandLineParsing.ts b/src/harness/unittests/commandLineParsing.ts
index 42fc242f08e..cd9bf88df60 100644
--- a/src/harness/unittests/commandLineParsing.ts
+++ b/src/harness/unittests/commandLineParsing.ts
@@ -165,7 +165,7 @@ namespace ts {
                         start: undefined,
                         length: undefined,
                     }, {
-                            messageText: "Argument for '--target' option must be:  'es3', 'es5', 'es6', 'es8', 'es2015', 'es2017'",
+                            messageText: "Argument for '--target' option must be:  'es3', 'es5', 'es6', 'es2015', 'es2016', 'es2017'",
                             category: ts.Diagnostics.Argument_for_0_option_must_be_Colon_1.category,
                             code: ts.Diagnostics.Argument_for_0_option_must_be_Colon_1.code,
 
diff --git a/src/harness/unittests/convertCompilerOptionsFromJson.ts b/src/harness/unittests/convertCompilerOptionsFromJson.ts
index db3d6cfc102..13f54e369ed 100644
--- a/src/harness/unittests/convertCompilerOptionsFromJson.ts
+++ b/src/harness/unittests/convertCompilerOptionsFromJson.ts
@@ -176,7 +176,7 @@ namespace ts {
                         file: undefined,
                         start: 0,
                         length: 0,
-                        messageText: "Argument for '--target' option must be:  'es3', 'es5', 'es6', 'es8', 'es2015', 'es2017'",
+                        messageText: "Argument for '--target' option must be:  'es3', 'es5', 'es6', 'es2015', 'es2016', 'es2017'",
                         code: Diagnostics.Argument_for_0_option_must_be_Colon_1.code,
                         category: Diagnostics.Argument_for_0_option_must_be_Colon_1.category
                     }]
diff --git a/src/services/tsconfig.json b/src/services/tsconfig.json
index 58312c6f38f..e759ab35b48 100644
--- a/src/services/tsconfig.json
+++ b/src/services/tsconfig.json
@@ -25,7 +25,7 @@
         "../compiler/visitor.ts",
         "../compiler/transformers/ts.ts",
         "../compiler/transformers/jsx.ts",
-        "../compiler/transformers/es7.ts",
+        "../compiler/transformers/es2016.ts",
         "../compiler/transformers/es6.ts",
         "../compiler/transformers/generators.ts",
         "../compiler/transformers/destructuring.ts",
diff --git a/tests/cases/compiler/es8-async.ts b/tests/cases/compiler/es2017basicAsync.ts
similarity index 97%
rename from tests/cases/compiler/es8-async.ts
rename to tests/cases/compiler/es2017basicAsync.ts
index 0ceb6e397e5..b13a5d29bc0 100644
--- a/tests/cases/compiler/es8-async.ts
+++ b/tests/cases/compiler/es2017basicAsync.ts
@@ -1,4 +1,4 @@
-// @target: es8
+// @target: es2017
 // @lib: es2017
 // @noEmitHelpers: true