Thats correct, we have neutral and active, with neutral bonded to earth at the board.. it allows the safety switch to operate if there is a fault.
Don't quote me, but im sure the states has " neutral " bonded to earth and L1 (110v) and L2 (110v) , sort of like our 3 phase.. but someone with actual knowledge may chime in here please..
Im sure there is a 110v version of these welders, honestly, ive bought a few for different reasons and all been pretty good. Most of the time they pretty much the same internally.
Another thought, you could use Oztules trick and add a motor start capacitor in series with your primary to limit current, but not sure if that will work with a transformer... again, smarter people please chime in ...