diff --git a/Modules/signalmodule.c b/Modules/signalmodule.c
--- a/Modules/signalmodule.c
+++ b/Modules/signalmodule.c
@@ -1317,6 +1317,8 @@
 {
     int i;
     PyObject *f;
+    PyThreadState *tstate;
+    int postponed = 0;
 
     if (!is_tripped)
         return 0;
@@ -1345,10 +1347,19 @@
     if (!(f = (PyObject *)PyEval_GetFrame()))
         f = Py_None;
 
+    tstate = PyThreadState_GET();
+
     for (i = 1; i < NSIG; i++) {
         if (Handlers[i].tripped) {
-            PyObject *result = NULL;
-            PyObject *arglist = Py_BuildValue("(iO)", i, f);
+            PyObject *result;
+            PyObject *arglist;
+            if (tstate->c_traceobj != NULL && tstate->tracing && i != SIGINT) {
+                postponed = 1;
+                continue;
+            }
+
+            result = NULL;
+            arglist = Py_BuildValue("(iO)", i, f);
             Handlers[i].tripped = 0;
 
             if (arglist) {
@@ -1363,6 +1374,11 @@
         }
     }
 
+    if (postponed && ! is_tripped) {
+        is_tripped = 1;
+        Py_AddPendingCall(checksignals_witharg, NULL);
+    }
+
     return 0;
 }