diff --git a/eng/Versions.props b/eng/Versions.props
index 2d6e7d3f9..283518304 100644
--- a/eng/Versions.props
+++ b/eng/Versions.props
@@ -190,8 +190,8 @@
       or minor release, prebuilts may be needed. When the release is mature, prebuilts are not
       necessary, and this property is removed from the file.
     -->
-    <PrivateSourceBuiltSDKVersion>7.0.117</PrivateSourceBuiltSDKVersion>
-    <PrivateSourceBuiltArtifactsPackageVersion>7.0.117</PrivateSourceBuiltArtifactsPackageVersion>
+    <PrivateSourceBuiltSDKVersion>7.0.118</PrivateSourceBuiltSDKVersion>
+    <PrivateSourceBuiltArtifactsPackageVersion>7.0.118</PrivateSourceBuiltArtifactsPackageVersion>
   </PropertyGroup>
   <!-- Workload manifest package versions -->
   <PropertyGroup>
diff --git a/src/SourceBuild/tarball/content/global.json b/src/SourceBuild/tarball/content/global.json
index 7025b6303..637b5911d 100644
--- a/src/SourceBuild/tarball/content/global.json
+++ b/src/SourceBuild/tarball/content/global.json
@@ -1,6 +1,6 @@
 {
   "tools": {
-    "dotnet": "7.0.117"
+    "dotnet": "7.0.118"
   },
   "msbuild-sdks": {
     "Microsoft.Build.CentralPackageVersions": "2.0.1",
diff --git a/src/SourceBuild/tarball/content/test/Microsoft.DotNet.SourceBuild.SmokeTests/assets/baselines/MsftToSbSdk.diff b/src/SourceBuild/tarball/content/test/Microsoft.DotNet.SourceBuild.SmokeTests/assets/baselines/MsftToSbSdk.diff
index bd443698c..4d662a3c3 100644
--- a/src/SourceBuild/tarball/content/test/Microsoft.DotNet.SourceBuild.SmokeTests/assets/baselines/MsftToSbSdk.diff
+++ b/src/SourceBuild/tarball/content/test/Microsoft.DotNet.SourceBuild.SmokeTests/assets/baselines/MsftToSbSdk.diff
@@ -14,7 +14,23 @@ index ------------
  ./packs/Microsoft.AspNetCore.App.Ref/
  ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/
 @@ ------------ @@
+ ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/Microsoft.JSInterop.xml
+ ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/Microsoft.Net.Http.Headers.dll
+ ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/Microsoft.Net.Http.Headers.xml
++./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Diagnostics.DiagnosticSource.dll
++./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Diagnostics.DiagnosticSource.xml
+ ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Diagnostics.EventLog.dll
+ ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Diagnostics.EventLog.xml
++./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Formats.Asn1.dll
++./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Formats.Asn1.xml
+ ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.IO.Pipelines.dll
+ ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.IO.Pipelines.xml
+ ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Security.Cryptography.Xml.dll
  ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Security.Cryptography.Xml.xml
++./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Text.Encodings.Web.dll
++./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Text.Encodings.Web.xml
++./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Text.Json.dll
++./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Text.Json.xml
  ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Threading.RateLimiting.dll
  ./packs/Microsoft.AspNetCore.App.Ref/x.y.z/ref/netx.y/System.Threading.RateLimiting.xml
 -./packs/Microsoft.NETCore.App.Host.portable-rid/
@@ -109,6 +125,35 @@ index ------------
  ./sdk/x.y.z/DotnetTools/dotnet-format/tr/
  ./sdk/x.y.z/DotnetTools/dotnet-format/tr/dotnet-format.resources.dll
  ./sdk/x.y.z/DotnetTools/dotnet-format/tr/Microsoft.CodeAnalysis.CSharp.Features.resources.dll
+@@ ------------ @@
+ ./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/Microsoft.IdentityModel.JsonWebTokens.dll
+ ./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/Microsoft.IdentityModel.Logging.dll
+ ./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/Microsoft.IdentityModel.Tokens.dll
++./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/runtimes/
++./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/runtimes/browser/
++./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/runtimes/browser/lib/
++./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/runtimes/browser/lib/netx.y/
++./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/runtimes/browser/lib/netx.y/System.Text.Encodings.Web.dll
+ ./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/System.IdentityModel.Tokens.Jwt.dll
++./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/System.Text.Encodings.Web.dll
++./sdk/x.y.z/DotnetTools/dotnet-user-jwts/x.y.z/tools/netx.y/any/System.Text.Json.dll
+ ./sdk/x.y.z/DotnetTools/dotnet-user-secrets/
+ ./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/
+ ./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/
+@@ ------------ @@
+ ./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/Microsoft.Extensions.FileSystemGlobbing.dll
+ ./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/Microsoft.Extensions.Primitives.dll
+ ./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/Newtonsoft.Json.dll
++./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/runtimes/
++./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/runtimes/browser/
++./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/runtimes/browser/lib/
++./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/runtimes/browser/lib/netx.y/
++./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/runtimes/browser/lib/netx.y/System.Text.Encodings.Web.dll
++./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/System.Text.Encodings.Web.dll
++./sdk/x.y.z/DotnetTools/dotnet-user-secrets/x.y.z/tools/netx.y/any/System.Text.Json.dll
+ ./sdk/x.y.z/DotnetTools/dotnet-watch/
+ ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/
+ ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/
 @@ ------------ @@
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/Microsoft.CodeAnalysis.CSharp.Features.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/Microsoft.CodeAnalysis.CSharp.Workspaces.dll
@@ -124,21 +169,26 @@ index ------------
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/middleware/Microsoft.AspNetCore.Watch.BrowserRefresh.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/pl/
 @@ ------------ @@
- ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/ru/Microsoft.CodeAnalysis.Workspaces.MSBuild.resources.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/ru/Microsoft.CodeAnalysis.Workspaces.resources.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/ru/System.CommandLine.resources.dll
--./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/
+ ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/unix/
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/unix/lib/
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/unix/lib/netx.y/
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/unix/lib/netx.y/System.Drawing.Common.dll
--./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/
--./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/
--./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/netx.y/
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/browser/
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/browser/lib/
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/browser/lib/netx.y/
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/browser/lib/netx.y/System.Text.Encodings.Web.dll
+ ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/
+ ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/
+ ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/netx.y/
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/netx.y/Microsoft.Win32.SystemEvents.dll
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/netx.y/System.Drawing.Common.dll
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/netx.y/System.Security.Cryptography.ProtectedData.dll
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/netx.y/System.Windows.Extensions.dll
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/runtimes/win/lib/netx.y/System.Text.Encoding.CodePages.dll
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Collections.Immutable.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.CommandLine.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Composition.AttributedModel.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Composition.Convention.dll
@@ -150,6 +200,10 @@ index ------------
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Security.Cryptography.ProtectedData.dll
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Security.Permissions.dll
 -./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Windows.Extensions.dll
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Reflection.Metadata.dll
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Text.Encoding.CodePages.dll
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Text.Encodings.Web.dll
++./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/System.Text.Json.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/tr/
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/tr/dotnet-watch.resources.dll
  ./sdk/x.y.z/DotnetTools/dotnet-watch/x.y.z/tools/netx.y/any/tr/Microsoft.CodeAnalysis.CSharp.Features.resources.dll
@@ -205,11 +259,21 @@ index ------------
 -./sdk/x.y.z/FSharp/runtimes/win/lib/netx.y/System.Security.Cryptography.ProtectedData.dll
  ./sdk/x.y.z/FSharp/runtimes/win/lib/netx.y/System.Windows.Extensions.dll
  ./sdk/x.y.z/FSharp/System.CodeDom.dll
++./sdk/x.y.z/FSharp/System.Collections.Immutable.dll
  ./sdk/x.y.z/FSharp/System.Configuration.ConfigurationManager.dll
 +./sdk/x.y.z/FSharp/System.Diagnostics.EventLog.dll
  ./sdk/x.y.z/FSharp/System.Drawing.Common.dll
++./sdk/x.y.z/FSharp/System.Formats.Asn1.dll
++./sdk/x.y.z/FSharp/System.Reflection.Metadata.dll
  ./sdk/x.y.z/FSharp/System.Resources.Extensions.dll
  ./sdk/x.y.z/FSharp/System.Security.Cryptography.Pkcs.dll
+ ./sdk/x.y.z/FSharp/System.Security.Cryptography.ProtectedData.dll
+ ./sdk/x.y.z/FSharp/System.Security.Cryptography.Xml.dll
+ ./sdk/x.y.z/FSharp/System.Security.Permissions.dll
++./sdk/x.y.z/FSharp/System.Threading.Tasks.Dataflow.dll
+ ./sdk/x.y.z/FSharp/System.Windows.Extensions.dll
+ ./sdk/x.y.z/FSharp/tr/
+ ./sdk/x.y.z/FSharp/tr/FSharp.Build.resources.dll
 @@ ------------ @@
  ./sdk/x.y.z/Microsoft.Build.NuGetSdkResolver.dll
  ./sdk/x.y.z/Microsoft.Build.Tasks.Core.dll
@@ -265,6 +329,13 @@ index ------------
  ./sdk/x.y.z/runtimes/win/lib/netx.y/Microsoft.Win32.SystemEvents.dll
  ./sdk/x.y.z/runtimes/win/lib/netx.y/System.Diagnostics.EventLog.dll
  ./sdk/x.y.z/runtimes/win/lib/netx.y/System.Diagnostics.EventLog.Messages.dll
+ ./sdk/x.y.z/runtimes/win/lib/netx.y/System.Drawing.Common.dll
+ ./sdk/x.y.z/runtimes/win/lib/netx.y/System.Security.Cryptography.Pkcs.dll
+ ./sdk/x.y.z/runtimes/win/lib/netx.y/System.ServiceProcess.ServiceController.dll
++./sdk/x.y.z/runtimes/win/lib/netx.y/System.Text.Encoding.CodePages.dll
+ ./sdk/x.y.z/runtimes/win/lib/netx.y/System.Windows.Extensions.dll
+ ./sdk/x.y.z/SDKPrecomputedAssemblyReferences.cache
+ ./sdk/x.y.z/SdkResolvers/
 @@ ------------ @@
  ./sdk/x.y.z/Sdks/Microsoft.NET.ILLink.Tasks/tools/net472/System.Buffers.dll
  ./sdk/x.y.z/Sdks/Microsoft.NET.ILLink.Tasks/tools/net472/System.Collections.Immutable.dll
@@ -289,6 +360,16 @@ index ------------
  ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tasks/net472/System.Reflection.Metadata.dll
  ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tasks/net472/System.Runtime.CompilerServices.Unsafe.dll
  ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tasks/net472/System.Text.Encodings.Web.dll
+@@ ------------ @@
+ ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tools/rzc.deps.json
+ ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tools/rzc.dll
+ ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tools/rzc.runtimeconfig.json
++./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tools/System.Collections.Immutable.dll
++./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tools/System.Reflection.Metadata.dll
++./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Razor/tools/System.Text.Encoding.CodePages.dll
+ ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Web.ProjectSystem/
+ ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Web.ProjectSystem/Sdk/
+ ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Web.ProjectSystem/Sdk/Sdk.props
 @@ ------------ @@
  ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Web/tools/net472/Microsoft.NET.Sdk.Web.Tasks.dll
  ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk.Web/tools/netx.y/
@@ -306,18 +387,28 @@ index ------------
  ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk/tools/net472/System.Runtime.CompilerServices.Unsafe.dll
  ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk/tools/net472/System.Text.Encodings.Web.dll
 @@ ------------ @@
+ ./sdk/x.y.z/Sdks/Microsoft.NET.Sdk/tools/netx.y/zh-Hant/Microsoft.NET.Build.Tasks.resources.dll
  ./sdk/x.y.z/Sdks/NuGet.Build.Tasks.Pack/
  ./sdk/x.y.z/System.CodeDom.dll
++./sdk/x.y.z/System.Collections.Immutable.dll
  ./sdk/x.y.z/System.CommandLine.dll
 -./sdk/x.y.z/System.ComponentModel.Composition.dll
  ./sdk/x.y.z/System.Configuration.ConfigurationManager.dll
  ./sdk/x.y.z/System.Diagnostics.EventLog.dll
  ./sdk/x.y.z/System.Drawing.Common.dll
++./sdk/x.y.z/System.Formats.Asn1.dll
++./sdk/x.y.z/System.Reflection.Metadata.dll
+ ./sdk/x.y.z/System.Reflection.MetadataLoadContext.dll
+ ./sdk/x.y.z/System.Resources.Extensions.dll
+ ./sdk/x.y.z/System.Security.Cryptography.Pkcs.dll
 @@ ------------ @@
  ./sdk/x.y.z/System.Security.Cryptography.Xml.dll
  ./sdk/x.y.z/System.Security.Permissions.dll
  ./sdk/x.y.z/System.ServiceProcess.ServiceController.dll
++./sdk/x.y.z/System.Text.Encoding.CodePages.dll
 +./sdk/x.y.z/System.Text.Encodings.Web.dll
++./sdk/x.y.z/System.Text.Json.dll
++./sdk/x.y.z/System.Threading.Tasks.Dataflow.dll
  ./sdk/x.y.z/System.Windows.Extensions.dll
 -./sdk/x.y.z/testhost-1.0.runtimeconfig.json
 -./sdk/x.y.z/testhost-1.1.runtimeconfig.json