President Donald Trump's decision to pause so-called "reciprocal tariffs" for most countries triggered a historic stock market rally on Wednesday, but the levies that remain in place are still expected to hike prices and put the U.S. at risk of a recession, experts told ABC News.

Newsweek's tracker currently shows Trump's approval rating at one of its lowest levels yet, with 45 percent approving and 50 percent disapproving, giving him a net approval of -5 points. On April 1, Trump's net approval rating was -2 points, with 47 approving and 49 percent disapproving.

Presidential approval ratings show Americans' views during each term. See how the latest polls scored Donald Trump and how tariffs affected ratings.

The last time inflation expectations ran that high was in 1981, toward the end of a historic period of high prices, remembered by the Federal Reserve as The Great Inflation.