diff --git a/src/compiler/checker.ts b/src/compiler/checker.ts
index 45f66a5e3ce..711a57effd8 100644
--- a/src/compiler/checker.ts
+++ b/src/compiler/checker.ts
@@ -18218,10 +18218,10 @@ namespace ts {
                     propagationType = savePropagationType;
                     return;
                 }
-                if (source.aliasSymbol && source.aliasTypeArguments && source.aliasSymbol === target.aliasSymbol) {
+                if (source.aliasSymbol && source.aliasTypeArguments && source.aliasSymbol === target.aliasSymbol &&
+                    inferFromTypeArguments(source.aliasTypeArguments, target.aliasTypeArguments!, getAliasVariances(source.aliasSymbol))) {
                     // Source and target are types originating in the same generic type alias declaration.
                     // Simply infer from source type arguments to target type arguments.
-                    inferFromTypeArguments(source.aliasTypeArguments, target.aliasTypeArguments!, getAliasVariances(source.aliasSymbol));
                     return;
                 }
                 if (source === target && source.flags & TypeFlags.UnionOrIntersection) {
@@ -18341,9 +18341,9 @@ namespace ts {
                 }
                 if (getObjectFlags(source) & ObjectFlags.Reference && getObjectFlags(target) & ObjectFlags.Reference && (
                     (<TypeReference>source).target === (<TypeReference>target).target || isArrayType(source) && isArrayType(target)) &&
-                    !((<TypeReference>source).node && (<TypeReference>target).node)) {
+                    !((<TypeReference>source).node && (<TypeReference>target).node) &&
+                    inferFromTypeArguments(getTypeArguments(<TypeReference>source), getTypeArguments(<TypeReference>target), getVariances((<TypeReference>source).target))) {
                     // If source and target are references to the same generic type, infer from type arguments
-                    inferFromTypeArguments(getTypeArguments(<TypeReference>source), getTypeArguments(<TypeReference>target), getVariances((<TypeReference>source).target));
                 }
                 else if (source.flags & TypeFlags.Index && target.flags & TypeFlags.Index) {
                     contravariant = !contravariant;
@@ -18463,6 +18463,9 @@ namespace ts {
             }
 
             function inferFromTypeArguments(sourceTypes: readonly Type[], targetTypes: readonly Type[], variances: readonly VarianceFlags[]) {
+                if (some(variances, variance => !!(variance & VarianceFlags.Awaited))) {
+                    return false;
+                }
                 const count = sourceTypes.length < targetTypes.length ? sourceTypes.length : targetTypes.length;
                 for (let i = 0; i < count; i++) {
                     if (i < variances.length && (variances[i] & VarianceFlags.VarianceMask) === VarianceFlags.Contravariant) {
@@ -18475,6 +18478,7 @@ namespace ts {
                         inferFromTypes(sourceTypes[i], targetTypes[i]);
                     }
                 }
+                return true;
             }
 
             function inferFromContravariantTypes(source: Type, target: Type) {
@@ -18680,9 +18684,9 @@ namespace ts {
 
             function inferFromObjectTypesWorker(source: Type, target: Type) {
                 if (getObjectFlags(source) & ObjectFlags.Reference && getObjectFlags(target) & ObjectFlags.Reference && (
-                    (<TypeReference>source).target === (<TypeReference>target).target || isArrayType(source) && isArrayType(target))) {
+                    (<TypeReference>source).target === (<TypeReference>target).target || isArrayType(source) && isArrayType(target)) &&
+                    inferFromTypeArguments(getTypeArguments(<TypeReference>source), getTypeArguments(<TypeReference>target), getVariances((<TypeReference>source).target))) {
                     // If source and target are references to the same generic type, infer from type arguments
-                    inferFromTypeArguments(getTypeArguments(<TypeReference>source), getTypeArguments(<TypeReference>target), getVariances((<TypeReference>source).target));
                     return;
                 }
                 if (isGenericMappedType(source) && isGenericMappedType(target)) {