diff --git a/src/main/java/com/hubspot/jinjava/lib/tag/ImportTag.java b/src/main/java/com/hubspot/jinjava/lib/tag/ImportTag.java
index 8fbc7a83a..4ce3c9d27 100644
--- a/src/main/java/com/hubspot/jinjava/lib/tag/ImportTag.java
+++ b/src/main/java/com/hubspot/jinjava/lib/tag/ImportTag.java
@@ -211,9 +211,19 @@ public static void handleDeferredNodesDuringImport(
         interpreter.getContext().addGlobalMacro(macro);
       }
       childBindings.remove(Context.GLOBAL_MACROS_SCOPE_KEY);
-      childBindings
-        .keySet()
-        .forEach(key -> interpreter.getContext().put(key, DeferredValue.instance()));
+      childBindings.forEach((key, value) -> {
+        Object originalValue = value instanceof DeferredValue
+          ? ((DeferredValue) value).getOriginalValue()
+          : null;
+        interpreter
+          .getContext()
+          .put(
+            key,
+            originalValue != null
+              ? DeferredValue.instance(originalValue)
+              : DeferredValue.instance()
+          );
+      });
     } else {
       for (Map.Entry<String, MacroFunction> macroEntry : child
         .getContext()
diff --git a/src/test/java/com/hubspot/jinjava/lib/tag/eager/EagerImportTagTest.java b/src/test/java/com/hubspot/jinjava/lib/tag/eager/EagerImportTagTest.java
index 58de257ed..6e082e9e8 100644
--- a/src/test/java/com/hubspot/jinjava/lib/tag/eager/EagerImportTagTest.java
+++ b/src/test/java/com/hubspot/jinjava/lib/tag/eager/EagerImportTagTest.java
@@ -219,6 +219,34 @@ public void itHandlesMultiLayerDeferred() {
       .isEqualTo("bar val");
   }
 
+  @Test
+  public void itPreservesOriginalValueOfDeferredImportedBindings() {
+    JinjavaInterpreter child = getChildInterpreter(interpreter, "");
+    Map<String, Object> childBindings = new HashMap<>();
+    childBindings.put("request", DeferredValue.instance("the real request"));
+    childBindings.put("valueless", DeferredValue.instance());
+
+    ImportTag.handleDeferredNodesDuringImport(
+      interpreter.parse(""),
+      "",
+      childBindings,
+      child,
+      interpreter
+    );
+
+    assertThat(interpreter.getContext().get("request")).isInstanceOf(DeferredValue.class);
+    assertThat(
+      ((DeferredValue) interpreter.getContext().get("request")).getOriginalValue()
+    )
+      .isEqualTo("the real request");
+    assertThat(interpreter.getContext().get("valueless"))
+      .isInstanceOf(DeferredValue.class);
+    assertThat(
+      ((DeferredValue) interpreter.getContext().get("valueless")).getOriginalValue()
+    )
+      .isNull();
+  }
+
   @Test
   @SuppressWarnings("unchecked")
   public void itHandlesMultiLayerSomeAliased() {