I agree with LateLesley that it looks like a fairly crappy SMPSU, but at least there appears to be reasonable creepage and clearance distances between primary and secondary sides. However its behaviour when overloaded may well be unsafe so relying on its current limiting and modding that to a lower limit is probably unwise.
With the above disclaimer out of the way, try replacing SMD resistor R7 (1.74 ohms) with a 4.7 ohm one. Either it will lower the limit or if you are unlucky it may let the magic smoke out!
Caution: This part of the circuit is mains live.
Reasoning: It appears to be between the MOSFET drain source and the negative of the primary side DC bus, and has a track going to a dedicated pin on the controller chip IC1, so is almost certainly a current sense resistor to limit the peak current in the switching transformer primary. There doesn't appear to be any method of directly sensing the load current, so its existing current limit behaviour is probably determined by the input power.
Edit: Corrected suspected MOSFET pin. The center one which is probably the drain goes to the transformer. b The other end one, most likely the gate, goes directly and only to IC1.