We theoretically investigate structural relaxation and activated diffusion of glass-forming liquids at different pressures using both the Elastically Collective Nonlinear Langevin Equation (ECNLE) theory and molecular dynamics (MD) simulation. An external pressure restricts local motions of a single molecule within its cage and triggers the slowing down of cooperative mobility. While the ECNLE theory and simulation generally predict a monotonic increase of the glass transition temperature and dynamic fragility with pressure, the simulation indicates a decrease of fragility as pressure above 1000 bar. The structural relaxation time is found to be linearly coupled with the inverse diffusion constant. Remarkably, this coupling is independent of compression. Theoretical calculations agree quantitatively well with simulations and are also consistent with prior works.