diff --git a/Makefile b/Makefile
index ab91d429f5..090d632ffd 100644
--- a/Makefile
+++ b/Makefile
@@ -80,9 +80,9 @@ include $(SRC_PATH)/Makefile.objs
 endif
 
 $(common-obj-y): $(GENERATED_HEADERS)
-$(filter %-softmmu,$(SUBDIR_RULES)): $(common-obj-y) subdir-libdis
+$(filter %-softmmu,$(SUBDIR_RULES)): $(trace-obj-y) $(common-obj-y) subdir-libdis
 
-$(filter %-user,$(SUBDIR_RULES)): $(GENERATED_HEADERS) subdir-libdis-user subdir-libuser
+$(filter %-user,$(SUBDIR_RULES)): $(GENERATED_HEADERS) $(trace-obj-y) subdir-libdis-user subdir-libuser
 
 ROMSUBDIR_RULES=$(patsubst %,romsubdir-%, $(ROMS))
 romsubdir-%: