We can use radial tires on trailers here. However, I understand the advantage might be limited. The tread on radials will last longer but for trailer tires the sidewalls often deteriorate before the tread. When I think of it (rarely) I spray armor all on the side walls. (I don't know if that really helps) The radials do cost more so I usually buy bias ply trailer tires since i'm cheap.
Sorry, I know zero about light duty folding trailers so I am no help on the folding trailer question. My trailers are bigger.