Two finger getures aren't working on external magic trackpad with M1 Macbook Pro

I'm using a brand new external magic trackpad with a 2021 M1 Macbook Pro (I have the Macbook Pro on a stand for ergonomic reasons therefore the alternate trackpad). The trackpad moves the cursor and clicks but two finger gestures such as scrolling and secondary clicking are not working.

I've restarted my computer multiple times and double checked trackpad setting. The trackpad on the Macbook Pro works fine. Any ideas?