diff --git a/Cargo.lock b/Cargo.lock
index 5cebe113107..b1b36a6808d 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -263,6 +263,7 @@ dependencies = [
 name = "bun_bin"
 version = "0.0.0"
 dependencies = [
+ "bstr",
  "bun_alloc",
  "bun_core",
  "bun_crash_handler",
diff --git a/src/js_parser/visit/visit_expr.rs b/src/js_parser/visit/visit_expr.rs
index 7bdec3f8e7a..44d7197cbd3 100644
--- a/src/js_parser/visit/visit_expr.rs
+++ b/src/js_parser/visit/visit_expr.rs
@@ -707,9 +707,23 @@ impl<'a, const TYPESCRIPT: bool, const SCAN_ONLY: bool> P<'a, TYPESCRIPT, SCAN_O
         let expr = *e;
         let _ = in_;
         let mut e_ = expr.data.e_template().expect("infallible: variant checked");
-        if let Some(tag) = e_.tag {
+        if e_.tag.is_some() {
             p.visit_expr(e_.tag.as_mut().unwrap());
+        }
+
+        // Visit the interpolation values before the macro dispatch below: its
+        // early-return paths (dead code, macros disabled, node_modules, macro
+        // failure) replace the whole expression without visiting the parts,
+        // which would leave the scopes recorded during the parse pass for any
+        // arrows/functions inside them unconsumed and trip "Scope mismatch
+        // while visiting" on the next scope push. Mirrors e_call, which visits
+        // its arguments before macro handling.
+        // `Template.parts` is arena-owned (Zig: `[]E.TemplatePart`).
+        for part in e_.parts_mut().iter_mut() {
+            p.visit_expr(&mut part.value);
+        }
 
+        if let Some(tag) = e_.tag {
             if Self::ALLOW_MACROS {
                 let ref_ = match &e_.tag.unwrap().data {
                     Data::EImportIdentifier(ident) => Some(ident.ref_),
@@ -797,11 +811,6 @@ impl<'a, const TYPESCRIPT: bool, const SCAN_ONLY: bool> P<'a, TYPESCRIPT, SCAN_O
             }
         }
 
-        // `Template.parts` is arena-owned (Zig: `[]E.TemplatePart`).
-        for part in e_.parts_mut().iter_mut() {
-            p.visit_expr(&mut part.value);
-        }
-
         // When mangling, inline string values into the template literal. Note that
         // it may no longer be a template literal after this point (it may turn into
         // a plain string literal instead).
diff --git a/test/bundler/transpiler/scope-mismatch-panic.test.ts b/test/bundler/transpiler/scope-mismatch-panic.test.ts
index 0f554b408f3..a7712c98037 100644
--- a/test/bundler/transpiler/scope-mismatch-panic.test.ts
+++ b/test/bundler/transpiler/scope-mismatch-panic.test.ts
@@ -147,6 +147,91 @@ describe("TypeScript 'declare' statements discard scopes of dropped statements",
   });
 });
 
+describe("macro tagged templates visit their interpolations", () => {
+  // When a tagged template's tag resolves to a macro import, the macro dispatch
+  // replaces the whole expression (dead code, macros disabled, or the macro call
+  // failing) without visiting the template parts. Scopes recorded during the parse
+  // pass for arrows/functions inside the interpolations were then never consumed by
+  // the visit pass, panicking with "Scope mismatch while visiting" on the next scope.
+  const macroFile = `export function mac(...args: any[]) { return "from-macro"; }`;
+
+  test.concurrent("tagged template macro with arrow interpolation reports the macro error", async () => {
+    using dir = tempDir("macro-template-scope", {
+      "macro.ts": macroFile,
+      "index.ts": `
+import { mac } from './macro.ts' with { type: 'macro' };
+const r = mac\`a\${() => { let q = 1; }}b\`;
+function g() { { let y = 1; } }
+g();`,
+    });
+
+    await using proc = Bun.spawn({
+      cmd: [bunExe(), "index.ts"],
+      env: bunEnv,
+      cwd: String(dir),
+      stderr: "pipe",
+      stdout: "pipe",
+    });
+
+    const [stdout, stderr, exitCode] = await Promise.all([proc.stdout.text(), proc.stderr.text(), proc.exited]);
+
+    // Must fail with the intended transpiler error, not a scope mismatch panic.
+    expect(stderr).not.toContain("Scope mismatch");
+    expect(stderr).toContain("template literal macro invocations are not supported");
+    expect(exitCode).not.toBe(0);
+  });
+
+  test.concurrent("tagged template macro with arrow interpolation in dead code is erased", async () => {
+    using dir = tempDir("macro-template-scope-dead", {
+      "macro.ts": macroFile,
+      "index.ts": `
+import { mac } from './macro.ts' with { type: 'macro' };
+false && mac\`a\${() => { let q = 1; }}b\`;
+function g() { { let y = 2; console.log("ran", y); } }
+g();`,
+    });
+
+    await using proc = Bun.spawn({
+      cmd: [bunExe(), "index.ts"],
+      env: bunEnv,
+      cwd: String(dir),
+      stderr: "pipe",
+      stdout: "pipe",
+    });
+
+    const [stdout, stderr, exitCode] = await Promise.all([proc.stdout.text(), proc.stderr.text(), proc.exited]);
+
+    expect(stderr).not.toContain("Scope mismatch");
+    expect(stdout).toBe("ran 2\n");
+    expect(exitCode).toBe(0);
+  });
+
+  test.concurrent("member-expression macro tag with function interpolation reports the macro error", async () => {
+    using dir = tempDir("macro-template-scope-ns", {
+      "macro.ts": macroFile,
+      "index.ts": `
+import * as macros from './macro.ts' with { type: 'macro' };
+macros.mac\`x\${function inner() { let z = 3; }}y\`;
+class C { m() { { let w = 4; } } }
+new C().m();`,
+    });
+
+    await using proc = Bun.spawn({
+      cmd: [bunExe(), "index.ts"],
+      env: bunEnv,
+      cwd: String(dir),
+      stderr: "pipe",
+      stdout: "pipe",
+    });
+
+    const [stdout, stderr, exitCode] = await Promise.all([proc.stdout.text(), proc.stderr.text(), proc.exited]);
+
+    expect(stderr).not.toContain("Scope mismatch");
+    expect(stderr).toContain("template literal macro invocations are not supported");
+    expect(exitCode).not.toBe(0);
+  });
+});
+
 describe("dropped TypeScript class members discard scopes", () => {
   // Decorators and computed keys are parsed before the parser knows whether the class
   // member they belong to will be kept. When the member is then dropped (an overload